Adding 10 million shares is a hell of a vote of confidence in FXL. In these uncertain times Renaissance has stepped up with its chequebook.
As Warren Buffett said “be fearful when others are greedy and be greedy when others are fearful”. Buffett made most of his money by buying great companies when they were in distress and everybody wanted out.
Perhaps now everyone will re-examine the strength of the FXL business, its balance sheet, let’s lines of credit and its prospects now that Rebecca James has redeveloped the product suite.
Good luck to all and stay safe and stay well.
Ann: Change in substantial holding, page-4
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